Dooralytics
St. Paul › Summit – University

891 Iglehart Ave

Saint Paul, MN · Summit – University (Rondo, Cathedral Hill) · View the listing ↗

Overpriced
Asking price
$422,750
3 units · $141K per unit
Monthly cash flow
−$475
at 20% down, 7%
Estimated rent
$4,410/mo
medium confidence
Break-even price
$333,543
where cash flow hits $0

Adjust these numbers in the calculator See the full breakdown

The numbers

Down payment %
Offer
Management
Interest rate %

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

Estimated rent per unit Estimate

  • 3 bed (est.)$1,650 $1,525–$1,775
  • 2 bed (est.)$1,350 $1,250–$1,450
  • 2 bed (est.)$1,350 $1,250–$1,450
  • Laundry / other$60

Our own rent research (2026-09-30): comparable listings we reviewed by hand. Highway, heat and amenity adjustments are already reflected. Range is ±7%. Confidence: medium.

Rent rules: Capped at 3%/yr for sitting tenants.

Price
$422,750
Monthly cash flow
−$475
Cash to close
$97,232
Cap rate
5.0%
Cash-on-cash
−5.9%
DSCR
0.79×
GRM
8.0
Price per unit
$140,917
Price that breaks even
$333,543
Rent that breaks even
$5,035/mo
Cash flow turns positive
year 11
Year 30: property vs stocks
$1.21M vs $923K

Monthly breakdown

Rent$4,350
Laundry / other$60
Vacancy (6%)−$265
Collected$4,145
Property tax Public record−$670
Insurance Our research−$317
Water, sewer, trash Our research−$280
Heat Our research−$250
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (9% of rent)−$397
Capital reserve (9% of rent)−$397
Net operating income$1,775
Mortgage (principal + interest)−$2,250
Cash flow−$475
Principal paid down (equity, not cash)$286

Cash flow each year

Rents +3%/yr (St. Paul's cap for sitting tenants), costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.21M, stocks $923K. The property wins.

How those totals add up

Year 30
If you buy this building
Sale priceValue grows 3% a year from the price$1,026,125
Minus 6% selling cost−$61,568
Minus loan still owedTenants' rent paid down all $338,200 of principal by year 30$0
Plus rental profits, invested at 7%$157,775 of profit by year 30, before investment growth$248,380
What you'd walk away with$1,212,938
If you put the same money in stocks
Cash to close ($97,232) invested at 7%$740,159
Monthly shortfalls ($30,851 total by yr 30) investedThe money you'd have put into the building while it lost money$182,640
What you'd walk away with$922,799
Building minus stocks$290,139

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

Red flags and opportunities

Watch for

  • mediumFire-inspection grade C: more deficiencies than typical; expect more frequent inspections and repair orders. Public record: St. Paul Certificate of Occupancy – Residential: 891 IGLEHART AVE, grade/tier=C, status=Renewal Due
  • medium$4,348 in special assessments on the payable 2026 tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Ramsey County parcel 352923340063: special assessments (payable 2026) = $4,347.86
  • mediumOne of several properties the same owner listed the same day — a portfolio sell-off. Get the rent roll and trailing-12 expenses. Source: Our research notes
  • medium'RUBS starting Q3 2026' is a projection, not income — and billing back utilities on existing St. Paul leases may count against the 3% cap. Source: Our research notes

Opportunities

  • Long time on market: room to negotiate. Based on: Listing data: 140 days on market

Questions for the agent

  • Can we see the current leases and a rent roll, with move-in dates?
  • What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
  • How old are the roof, boiler or furnaces, water heaters and electrical panels?
  • Is the building licensed as a rental for this many units, and when was the last city inspection?
  • Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Listing summary

Triplex, 7 bed / 4 bath, coin laundry, 2-car garage, off-street parking. Fully occupied. Owner currently pays part of utilities.

Research notes

  • Unit mix is my estimate; the listing doesn't give it.

Where each number comes from

Property tax / yr Public recordRamsey County record, payable 2026 (non-homestead). Our earlier figure was $7,500.$8,036
Insurance / yr Our researchour research. quote-based estimate$3,800
Water, sewer, trash / mo Our researchour research$280
Heat / mo Our researchour research$250
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal$60
Repairs / capital reserve Our researchour research9% / 9%

County record Public record

Recorded asthree family dwelling, platted lot
Living units3
Year built1889
Market value (2026)$375,900
Property tax, payable 2026$8,036
Special assessments$4,348
Homesteadno
Last sale—

Source: Ramsey County parcel records.

City rental certificate (CofO)

Residential 3+ Units: 3 unit(s), C, status renewal due, renews 2023-12-20.

Nearest highway

I 94, about 222 m away.

Crime in Summit – University

1,067 incidents in the last 12 months (59 per 1,000 residents), −13% vs. the year before. St. Paul police incidents, excluding proactive visits and community events.

Status history